The number of active fleet management systems deployed in commercial vehicle fleets in Europe was 10.6 million at the end of 2019, according to a new research report from the IoT analyst firm Berg Insight. Growing at a compound annual growth rate (CAGR) of 13.4 percent, this number is expected to reach 19.9 million by 2024. The top-26 vendors have today more than 100,000 active units in Europe. Webfleet Solutions’ subscriber base has grown both organically and by acquisitions during the past years and the company is the clear market leader on the European market and reached an installed base of about 787,000 units at year-end 2019. Berg Insight ranks Verizon Connect as the second largest player in terms of active installed base with around 460,000 units. Targa Telematics is in third place and had achieved an installed base of an estimated 400,000 units. Scania and ABAX follow and have reached 301,000 units and 270,000 units respectively. Masternaut, Bornemann, Viasat, Radius Telematics and Gurtam are also ranked among the ten largest providers with 160,000–220,000 units each. Some notable players just outside of the top ten list are Transics, OCEAN (Orange), Teletrac Navman, Fleet Complete, Volvo, Quartix, GSGroup, Macnil, Daimler, Eurowag Telematics, Microlise, Ctrack (Inseego), AddSecure Smart Transport, Coyote, Optimum Automotive, Cartrack, Trimble, RAM Tracking, MAN and AROBS Transilvania Software. The HCV manufacturers are now growing their subscriber bases considerably in Europe thanks to standard line fitment of fleet management solutions. FleetBoard by Daimler, Dynafleet by Volvo and Scania Fleet Management are the most successful with active subscriber bases of 120,000 units, 140,000 units and 301,000 units respectively at the end of 2019.
The consolidation trend on this market continued in 2020. “Ten major mergers and acquisitions have taken place in the past twelve months among the vendors of fleet management systems in Europe”, said Johan Fagerberg, Principal Analyst, Berg Insight. Radius Payment Solutions picked up Key Telematics in December 2019. TelliQ was acquired by Infobric in January 2020 and has now been rebranded Infobric Fleet. In March, GPS Bulgaria acquired Mobiliz, the second largest fleet management solution provider in Turkey. AddSecure Smart Transport has done 3 transactions so far in 2020. In May, AddSecure Smart Transport acquired Connexas, a provider of smart transport solutions throughout the UK, EU, North America and Australia. The deal adds yearly revenues of € 25 million and over 100,000 billable connections. In July 2020, AddSecure Smart Transport also picked up also Navkonzept in Germany adding 2,200 clients and 20,000 equipped vehicles. This transaction reinforces AddSecure’s position in the Transport and Logistics market in Germany. Finally, Addsecure acquired in November 2020 RTL Telematics, which offers solutions for hazardous goods and advanced vehicle cameras. H2 Equity partners acquired a majority share of RAM Tracking in June 2020. Later in September 2020, RAM tracking in turn acquired Asset Monitoring Solutions to further strengthen its market position and installed base in the UK, the US and France. During fall 2020, ABAX acquired RAM Track & Trace in Belgium and Automile in Sweden respectively. These acquisitions added 19,600 and 87,000 vehicle subscriptions respectively to ABAX Group’s existing subscription base. Mr. Fagerberg anticipates that the market consolidation of the still overcrowded industry will continue in 2020–2021.